Have you ever thought about investing in rental property? Apartment buildings, condominiums, rental housing... all of these properties can be lucrative investments. Or they can be disastrous money pits!!! In this Updated Field Guide you will find articles covering not only investing in multi-family properties, but also what to do with the property once it's yours.
View more articles and links:
http://www.realtor.org/library/library/fg404
Monday, May 2, 2011
Are Foreclosure Rates Falling?
It is still difficult to say. What is relatively safe to say about 2010 is that the bottleneck has shifted – from delinquencies to the foreclosure inventory. In other words, a significant portion of the delinquent inventory that built up since the beginning of the crises is now moving into the foreclosure inventory as modification efforts and cures are taking effect. The result is declining delinquent inventory and increasing foreclosure inventory. What is also relatively safe to say is that new problem loans continue to improve; all states are showing significant 12-month declines in new seriously delinquent loan inventory and a 38 percent annual decline nationally.
To put it into numbers, according to Lender Processing Services (LPS), there were 8.1 million total non-current loans (delinquent and in foreclosure inventory) in February of 2010 – the peak of the foreclosure crisis. Currently there are about 6.9 million non-current (i.e., at least 30-days delinquent) loans. This decline has contributed to a significant drop in delinquencies. Delinquencies fell by 18 percent over the course of 2010, while more serious delinquencies (90+ days late) fell by 12 percent. Since a share of these delinquencies that have not cured or been modified has ended up in the foreclosure inventory, the foreclosure inventory is up over 9 percent over the past year.
Similarly, foreclosure starts were up over 10 percent over 2010, though the evolving crisis in documentation and foreclosure processing might slow the rate at which delinquent loans move to foreclosure starts. Early 2011 numbers already suggest that trend. Nevertheless, out of 6.9 million first-lien, non-current loans, 2.2 million are in foreclosure inventory, 2.1 million are seriously delinquent, 1.8 million are new delinquencies and around 710,000 are 60 to 90 days late.
Read more of this article:
http://www.realtor.org/research/reinsights/infocus
To put it into numbers, according to Lender Processing Services (LPS), there were 8.1 million total non-current loans (delinquent and in foreclosure inventory) in February of 2010 – the peak of the foreclosure crisis. Currently there are about 6.9 million non-current (i.e., at least 30-days delinquent) loans. This decline has contributed to a significant drop in delinquencies. Delinquencies fell by 18 percent over the course of 2010, while more serious delinquencies (90+ days late) fell by 12 percent. Since a share of these delinquencies that have not cured or been modified has ended up in the foreclosure inventory, the foreclosure inventory is up over 9 percent over the past year.
Similarly, foreclosure starts were up over 10 percent over 2010, though the evolving crisis in documentation and foreclosure processing might slow the rate at which delinquent loans move to foreclosure starts. Early 2011 numbers already suggest that trend. Nevertheless, out of 6.9 million first-lien, non-current loans, 2.2 million are in foreclosure inventory, 2.1 million are seriously delinquent, 1.8 million are new delinquencies and around 710,000 are 60 to 90 days late.
Read more of this article:
http://www.realtor.org/research/reinsights/infocus
REALTOR® Magazine-House Flippers Return, Still Finding Profits
More investors are taking on the risk of flipping homes, despite falling home prices and sluggish real estate markets across the country. But investors say there are still profits to be made in the house flipping business.
Nearly 1 million homes were bought as investment properties in 2010, according to the National Association of REALTORS®, and a record number of buyers purchasing properties with cash currently are flooding the market (investors make up 40% of the current home sales market, with 35% of them being all cash buyers).
Read more of this article:
REALTOR® Magazine-Daily News-House Flippers Return, Still Finding Profits
Nearly 1 million homes were bought as investment properties in 2010, according to the National Association of REALTORS®, and a record number of buyers purchasing properties with cash currently are flooding the market (investors make up 40% of the current home sales market, with 35% of them being all cash buyers).
Read more of this article:
REALTOR® Magazine-Daily News-House Flippers Return, Still Finding Profits
Thursday, March 31, 2011
Multi-Family Real Estate Star of Commercial Sector!
The NAR research lab recently completed a study of the current commercial market. Of the 4 sectors (Office, Retail, Industrial, and Multi-family), multi-family took the prize with higher demand and vacancies in the single digits (as opposed to double digits for the other sectors). Take a look at this video to learn more about what's going on with commercial real estate.
Friday, March 4, 2011
Paying the Price
I thought I'd share an arctilce I read at: http://www.richdadeducationblog.com/2011/02/_paying_the_price.php
A Roman poet once wrote, “All wish to possess knowledge, but few, comparatively speaking, are willing to pay the price.” One could easily substitute the word success for knowledge and have the same meaning applied. Whether it be knowledge or success, why does something that the vast majority of people want so rarely occur? What are the defining characteristics of those individuals who turn their wishes into actualized dreams?
A world-class pianist performed a concert, and afterward, one of the audience members came up, and praised the pianist for his talent. In the midst of praise, the audience member commented on how they wished they could play like the pianist. The pianist looked at the audience member and said, "To get to the point I am now, I have practiced on average 10 hours a day for the last twenty years. Would you be willing to do that to play like I do?" The audience member begrudgingly shook their head no, and quietly walked away.
While certain people may be blessed with more natural talent than others, each person faces a journey that will be marred with difficulties and pitfalls on their way to success. No matter how much natural talent the pianist in the story was blessed with, there were undoubtedly time periods where it was difficult to reach that next level of success - times where dedication and perseverance were necessary in order to make that next step of progress.
Stage One: Desire
If success were a magical gift that could be bestowed on anyone that asked for it, how many would turn it down? Naturally, success means different things to different people, as not all individuals define success in monetary terms. The arts and many professions and hobbies that individuals engage in provide little in terms of monetary rewards, yet for every individual who reaches the pinnacle in their respective area, there are thousands who lag behind. If you ask any of these thousands if they wished to be as successful or as talented as the people at the top of their area of interest, you undoubtedly would have a collective yes to the question.
It is the rare individual who desires nothing. A lack of desire for wealth, knowledge, notoriety, peace, or talent is foreign to the human condition. In fact, desire is so innately part of the human experience that we should have pity on those that have little to no desire for anything as they are scarcely human.
If you look inwardly, you likely will find desires in numerous areas. It would not be unusual if you wish to be knowledgeable, financially successful, respected, and skillful in those work and hobby areas you engage in. Desire is not the hard part. You join billions of other people who have the same basics desires you have. The question is, how do you separate yourself from the billion-member pack?
Stage Two: Dedication
While we all may be part of the multi-billion member pack who have desires, there are individuals who want to achieve that which they desire more than others. We oftentimes label these individuals over-achievers, type A personalities, or workaholics, but whatever the label, they usually share a common characteristic - they work harder at achieving their goals than others. They pay the price that the Roman poet referred to, in order to achieve the goal that they set out to do.
This hard work manifests itself for long time periods as well. It is far too common for passion to manifest itself in an individual, and for them to work hard for short periods to achieve the desire. They may want to learn to play the guitar, so they buy one, and practice intensely for a few days, weeks, or months. Then one day, the motivation isn't there, and they stop. Pawn shops across the world are filled with the temporary desires that lacked the dedication to see it through.
Becoming proficient at something can be difficult. Becoming really good at something is not easy to achieve without time and energy put into that endeavor. While certain things are easy to maintain once the skill is learned (riding a bike comes to mind), most things require dedication, time, and constant energy in order for success to be achieved. If it came easy to everyone, then we wouldn't put any value on it, would we?
Stage Three: Perseverance
Perhaps the rarest of individuals is the individual who has desires, manifests dedication, and overcomes all obstacles that are thrown their way. One definition of perseverance is, "To persist steadfastly in pursuit of an undertaking, task, journey, or mission, in spite of distraction, difficulty, obstacles, or discouragement" (en.wiktionary.org/wiki/persevere). I like the person I might become if this definition of perseverance could be applied to me.
Distraction comes in many forms, often in the forms of pleasures that are easier, and offer comfort today. Difficulty will manifest itself in many forms, from skills that you may be currently underdeveloped to life problems that present themselves in many forms. Discouragement is far too common, as those that have sold short in life are often envious of even the attempt of success. Tell someone your desires, dreams, goals, and you likely will get looks and comments of disbelief and commentary on how that isn't possible. Too often it is those that are closest to us who offer the discouraging words. We all have shortcomings and have failed, and those close to us know these characteristics and instances well.
There is no reason you can't become the person you want to be. There are a million reasons you and others can give on why it isn't possible. There is a price to pay to achieve the success we want in life. It will require your time and energy, and you will have to develop the perseverance. If you can become this individual, you will belong to a rare class, accomplishing things others will admire and become someone you can be proud if. If this is in a financial area, great. If it is in another area, just as wonderful. Whatever it is, go out and pay the price necessary to accomplish your goals.
A Roman poet once wrote, “All wish to possess knowledge, but few, comparatively speaking, are willing to pay the price.” One could easily substitute the word success for knowledge and have the same meaning applied. Whether it be knowledge or success, why does something that the vast majority of people want so rarely occur? What are the defining characteristics of those individuals who turn their wishes into actualized dreams?
A world-class pianist performed a concert, and afterward, one of the audience members came up, and praised the pianist for his talent. In the midst of praise, the audience member commented on how they wished they could play like the pianist. The pianist looked at the audience member and said, "To get to the point I am now, I have practiced on average 10 hours a day for the last twenty years. Would you be willing to do that to play like I do?" The audience member begrudgingly shook their head no, and quietly walked away.
While certain people may be blessed with more natural talent than others, each person faces a journey that will be marred with difficulties and pitfalls on their way to success. No matter how much natural talent the pianist in the story was blessed with, there were undoubtedly time periods where it was difficult to reach that next level of success - times where dedication and perseverance were necessary in order to make that next step of progress.
Stage One: Desire
If success were a magical gift that could be bestowed on anyone that asked for it, how many would turn it down? Naturally, success means different things to different people, as not all individuals define success in monetary terms. The arts and many professions and hobbies that individuals engage in provide little in terms of monetary rewards, yet for every individual who reaches the pinnacle in their respective area, there are thousands who lag behind. If you ask any of these thousands if they wished to be as successful or as talented as the people at the top of their area of interest, you undoubtedly would have a collective yes to the question.
It is the rare individual who desires nothing. A lack of desire for wealth, knowledge, notoriety, peace, or talent is foreign to the human condition. In fact, desire is so innately part of the human experience that we should have pity on those that have little to no desire for anything as they are scarcely human.
If you look inwardly, you likely will find desires in numerous areas. It would not be unusual if you wish to be knowledgeable, financially successful, respected, and skillful in those work and hobby areas you engage in. Desire is not the hard part. You join billions of other people who have the same basics desires you have. The question is, how do you separate yourself from the billion-member pack?
Stage Two: Dedication
While we all may be part of the multi-billion member pack who have desires, there are individuals who want to achieve that which they desire more than others. We oftentimes label these individuals over-achievers, type A personalities, or workaholics, but whatever the label, they usually share a common characteristic - they work harder at achieving their goals than others. They pay the price that the Roman poet referred to, in order to achieve the goal that they set out to do.
This hard work manifests itself for long time periods as well. It is far too common for passion to manifest itself in an individual, and for them to work hard for short periods to achieve the desire. They may want to learn to play the guitar, so they buy one, and practice intensely for a few days, weeks, or months. Then one day, the motivation isn't there, and they stop. Pawn shops across the world are filled with the temporary desires that lacked the dedication to see it through.
Becoming proficient at something can be difficult. Becoming really good at something is not easy to achieve without time and energy put into that endeavor. While certain things are easy to maintain once the skill is learned (riding a bike comes to mind), most things require dedication, time, and constant energy in order for success to be achieved. If it came easy to everyone, then we wouldn't put any value on it, would we?
Stage Three: Perseverance
Perhaps the rarest of individuals is the individual who has desires, manifests dedication, and overcomes all obstacles that are thrown their way. One definition of perseverance is, "To persist steadfastly in pursuit of an undertaking, task, journey, or mission, in spite of distraction, difficulty, obstacles, or discouragement" (en.wiktionary.org/wiki/persevere). I like the person I might become if this definition of perseverance could be applied to me.
Distraction comes in many forms, often in the forms of pleasures that are easier, and offer comfort today. Difficulty will manifest itself in many forms, from skills that you may be currently underdeveloped to life problems that present themselves in many forms. Discouragement is far too common, as those that have sold short in life are often envious of even the attempt of success. Tell someone your desires, dreams, goals, and you likely will get looks and comments of disbelief and commentary on how that isn't possible. Too often it is those that are closest to us who offer the discouraging words. We all have shortcomings and have failed, and those close to us know these characteristics and instances well.
There is no reason you can't become the person you want to be. There are a million reasons you and others can give on why it isn't possible. There is a price to pay to achieve the success we want in life. It will require your time and energy, and you will have to develop the perseverance. If you can become this individual, you will belong to a rare class, accomplishing things others will admire and become someone you can be proud if. If this is in a financial area, great. If it is in another area, just as wonderful. Whatever it is, go out and pay the price necessary to accomplish your goals.
Thursday, December 9, 2010
The One Thing You Need to Remember
The one thing you need to Re-member is that we are all one and all that is happening is part of the divine process as we create a new world order; a natural order, an order of global collaboration, peace, prosperity, acceptance, tolerance, harmony and above all love. The ultimate secret in life, the secret to peace and prosperity is; just be who you really are. Become a member of the universe, the one song, again.
The truth is - all we need is already within us. The challenge is we are still trying to find love, acceptance, and freedom in our external world. Until we learn to go within to find our authentic self, we will go without.
When you are your true self you are in a state of being that permeates every fiber of your mind, body and spirit and radiates all around you. It is the alchemist within you, the genie within you, the golden goose, it is the priceless treasure.
We need to constantly re-mind ourselves, and each other, so that we can re-member together who we really are. We need to feed our mind, heart and body with the thoughts, emotions, feelings and spiritual energy that will fill us with the wealth from our soul.
We are transitioning from being a society driven by our mind (head), separated from our emotions (gut), to a society built on feelings (heart), which are a balance and fusion of both. When we live and love from the heart, we are in balance with ourselves, each other, and the earth. Then we see the magic...
The ancients understood that our wisdom is in our heart. The irony is, in order to try and avoid painful feelings, we try to disconnect from our heart by blocking our feelings. We use our mind to protect our heart, and yet it is only in our mind that our heart can be broken.
We have been conditioned to be afraid of living from our heart, to mistrust our heart. That is because our society has been built on fear and control and when we live from our heart, the source of true wisdom we are too powerful for anyone to control.
The truth is - all we need is already within us. The challenge is we are still trying to find love, acceptance, and freedom in our external world. Until we learn to go within to find our authentic self, we will go without.
When you are your true self you are in a state of being that permeates every fiber of your mind, body and spirit and radiates all around you. It is the alchemist within you, the genie within you, the golden goose, it is the priceless treasure.
We need to constantly re-mind ourselves, and each other, so that we can re-member together who we really are. We need to feed our mind, heart and body with the thoughts, emotions, feelings and spiritual energy that will fill us with the wealth from our soul.
We are transitioning from being a society driven by our mind (head), separated from our emotions (gut), to a society built on feelings (heart), which are a balance and fusion of both. When we live and love from the heart, we are in balance with ourselves, each other, and the earth. Then we see the magic...
The ancients understood that our wisdom is in our heart. The irony is, in order to try and avoid painful feelings, we try to disconnect from our heart by blocking our feelings. We use our mind to protect our heart, and yet it is only in our mind that our heart can be broken.
We have been conditioned to be afraid of living from our heart, to mistrust our heart. That is because our society has been built on fear and control and when we live from our heart, the source of true wisdom we are too powerful for anyone to control.
Who You Really Are
Imagine a world in which all your wishes are granted
Where all your desires are from seeds carefully planted
Love flows from your heart and expands across the land
All your questions have been answered
You now understand there is no direction that you cannot take if you choose
The universe is all yours so now you have nothing to lose
You have created the vision that has become the new frontier
Now all the dreams you ever dreamed manifest for you here
As you look out once more from the point of no return
You remember with everything that there is nothing to learn
You chose to forget that which your soul always knows
That you are the light into which all of creation flows
The greatest celebration suddenly and vividly breaks out in bliss
There has never been the feeling or a moment quite like this
The entirety of totality that came to exist from the brightest star
Has come to be with you as you accept and BE who you really are
When I say "Be who you really are" very often people ask, "What does that really mean?" It means be your authentic self. The challenge is that most people have forgotten who that is. They spend their lives trying to be who they think other people want them to be, and end up being the proverbial 'candle in the wind.' To find your authentic self, ask yourself some powerful questions:
What am I passionate about?
How do I like to be in the world? Are you outgoing or ingoing?
Do you like to be on your own, and be creative in terms of writing or art? Or do you like to be creative in conversation, and be gregarious?
You know who you really are at the core of your being. Take some time think about those things and put them into a vehicle that you are passionate about, a way to express your unique creativity in the world.
That is who you really are. That unique creative expression that is like nobody else, no other soul. Just like there is no one snowflake the same as the other, there is no soul on earth that is exactly the same as you. You are unique. Not better, but special. Just as we're all special. So, I dare you to be who you really are. That would be wise!
There is more than hope for a better world. That world is emerging right now. Your life is either an example or a warning, so lead by example. Take what you remember here and share it with as many souls as you can.
Share your wealth - your unique creative gifts and energy - with the world, and you will experience peace and prosperity.
This is just a reminder to be who you are wherever you are in all things. This was written by Stephen Edwards (a philanthropist and entrepreneur).
Saturday, November 6, 2010
Watch This Video!!
I.O.U.S.A. is a full-length documentary that details the four main deficits we have in the United States: trade, budget, savings, leadership. I can honestly say that when I first watched this movie, it scared the wits out of me; mostly because it left me wondering HOW IN THE WORLD ARE WE GOING TO FIX THIS PROBLEM? I am glad to say that the people who released the documentary have kept up with the times and have since released this shorter video detailing the HOW'S for fixing our deficit issues.
This shorter video, titled Solutions, was made in 2010, 2 years after the initial movie that was released in 2008. As we all know MANY things have changed since then. PLEASE WATCH!!! And pass this on to others you know. If you would like to know more please visit the official website http://www.iousathemovie.com/.
This shorter video, titled Solutions, was made in 2010, 2 years after the initial movie that was released in 2008. As we all know MANY things have changed since then. PLEASE WATCH!!! And pass this on to others you know. If you would like to know more please visit the official website http://www.iousathemovie.com/.
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